Inside the life of America’s youngest billionaire
At just 20 years old, Kylie Jenner made global headlines last week when she was named a ‘self-made’ billionaire by Forbes, thanks to the meteoric success of her $800 million beauty empire Kylie Cosmetics (and $100 million from other earnings).
It’s a staggering achievement, and one that puts her ahead of Beyoncé ($355 million), Taylor Swift ($320 million) and even Kim Kardashian West ($350 million).
But the reality star’s cover sparked as much interest as it did outrage, with many disputing the idea that Kylie reached this milestone unaided.
Critics pointed out that Kylie, who grew up on TV in Keeping Up With The Kardashians from the age of 10, has benefited from the connections afforded by her own fame and her famous family.
Yet, well-placed insiders inform Grazia that the young entrepreneur is very much hands-on when it comes to the day-to-day running of her three-year-old business.
‘Kylie operates her business like a tech start-up company,’ the insiders explains. ‘Except, instead of running it from a coffee shop, she’s either at her mansion or Kris’s Calabasas home taking conference calls with her whole team on speaker.’
Kylie’s team consists of seven full-time employees (and five part-time), with the manufacturing of her products outsourced to other companies. Key members include long-time personal assistant Victoria Villarroel Gamero, best friend Jordyn Woods, manufacturer Laura Nelson and, of course, the Kardashian matriarch Kris.
‘ There is no doubt that Kylie couldn’t have got this business to where it is without her mom’s help. She streamlined the process of getting Kylie’s ideas turned into a reality,’ we’re told. ‘But Kylie has put the work in keeping things going.’
The products are formulated and made at facilities in California and China. Both companies are headed up by siblings Laura and John Nelson. ‘A regular day for Kylie will always include checking on the progress of her products, as well as formulating new ideas with Laura and her team. Laura has over 17 years’ experience in the beauty industry and is a total dynamo. She’s been integral to Kylie’s success,’ the insider adds.
With the Nelsons handling all the nitty gritty, Kylie – who welcomed her first child, daughter Stormi, with boyfriend Travis Scott in February – needn’t sweat the small stuff. In fact, her luxe life in Los Angeles doesn’t exactly compare to what one might expect from an entrepreneur building their empire from the ground.
When she’s not checking in on the business, Kylie is busy looking after Stormi ( helped by multiple nannies) at her $12 milllion home in the Hidden Hills, which she recently renovated.
As well as an expensive wardrobe for her daughter (our insider estimates Kylie has already spent well over $150,000 on baby clothes alone, including $22,000 on shoes for a five-month-old who can’t walk), she has been pictured pushing Stormi in
a $12,500 Fendi stroller (far left). Last week, Kylie revealed that work had been completed on a bespoke dog house for her Italian greyhounds, Norman and Bambi, including air-conditioning and heating. Kylie is also said to keep her own home constantly air-conditioned, not to escape the Californian heat, but to enjoy her electric fireplace. ‘Kylie absolutely loves spending her money,’ the insider reveals. ‘She spends thousands of dollars a week on her appearance; paying hair stylists, getting wigs made that cost up to $5,000, as well as getting spray tans from the salon Jimmy Coco, where treatments are $350 each.
‘She’s very generous when it comes to her friends, too. She gave her best friend Jordyn a $70k Mercedes-benz for her birthday and is always gifting her staff extravagant presents or taking her friends away for vacations. She also has quite the shopping addiction, including a penchant for Birkin bags. Then there are the regular trips by private jet, which are not cheap.’
But that’s all a drop in the ocean for someone whose company is forecast to be worth well over a billion dollars by 2022. And don’t make the mistake of thinking Kylie isn’t also very savvy when it comes to her cash.
‘Kylie is still able to invest and save a great deal. What she’s really focused on is creating a legacy that one day her daughter might take on. She’s proud of her success and genuinely feels that she’s worked hard for it.’